Pre-Built Problems Required information The following information applies to the

Question

Pre-Built Problems Required information The following information applies to the questions displayed below Rita owns a sole proprietorship in which she works as a management consultant. She maintains an office in her home (500 square feet) where she meets with clients, prepares bils, and performs other than home office expenses, total $5,600. The following home-related office under the actual expense method for calculating home office expenses other work-related tasks. Her business expenses, expenses have been allocated to her home Real property taxes Interest on home mortgage Operating expenses of hone Depreciation $ 1,680 5,100 1,680 Also, assume that not counting the sole proprietorship, Rita's AGl is $60.000 Assume Rita's consulting business generated $13,000 in gross income for the current year Further, assume actual expense method for computing her home office expense deduction Rita uses the d. Assuming the original facts, what types and amounts of expenses will she carry over to next year? F8 10

Explanation / Answer

Rita will not carry over any expenses to next year because Rita is allowed to deduct all of the expenses in this year, she cannot carry over expenses to next year.

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